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129 Meadow Crest Drive Princeton, TX 75407

3 Beds 2 Baths 1,676 sqft Built 2010

$235,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $140.21
  • 4 Days on Market
  • MLS # : 14501517
  • Updated Date : 01/30/2021 at 19:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,676 sqft
  • Baths : 2 full
Listing Agent

Core One Real Estate, L.l.c

Listing Agent's Description

Lovely one owner home located in the desirable Forest Grove Subdivision in booming Princeton. Freshly painted inside and out. This home features split floor plan with large secondary bedrooms. Open kitchen with plenty of counter space. Owners suite features double sinks, soaker tub ,separate shower and large walk in closets. Home is also walking distance to Smith Elem. Don't miss this one** Multiple Offers...Please submit highest and best by 8pm Jan 31**

SEE MORE

MARKET HIGHLIGHTS

  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Smith Elementary School Primary Regular NA
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Smith Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$816
Property Tax -$490
Property Insurance -$124
HOA -$28
Property Management Fees -$99
CASH FLOW
$34

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$235,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$12,463

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,590

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,622

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,5953$1,6254$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 129 Meadow Crest Drive Princeton, TX 1
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.95
    •  
  • 2116 Shady Glen Trail Princeton, TX 2
    • 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 2015
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
  • 179 Tanglewood Draw Princeton, TX 3
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2010
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.97
    •  
  • 1512 Wild Rye Circle Princeton, TX 4
    • 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 2016
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.93
    •  
  • 2137 Meadow Park Drive Princeton, TX 5
    • 4 beds 2 baths ∙ 1,698 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,698 Sqft ∙ Built 2015
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
PROPERTY LISTING DETAILS
Rayann Burton
Core One Real Estate, L.l.c
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501517
Last Updated: 01/30/2021
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